A Japanese company is close to creating a device that will allow you to forget remembering your passwords. Fujitsu, an information and communication technology manufacturer, has developed a technology that turns human biology into an encryption key, which should increase digital security and protect private information.
According to a released statement Oct. 26, Fujitsu uses different, randomized numbers “to convert biometric data into a cryptographic key for use in encryption and decryption. This makes it possible to simply and securely manage an individual’s confidential data using biometric data, while preventing the unconverted biometric data from passing through the network.”
Biometric data is a type of technology that analyzes physical characteristics for verification purposes. Some common forms of biometrics include: DNA, fingerprints, eye retinas, voice patterns, palm veins, and facial patterns.
Essentially, Fujitsu’s technology will be able to take a fingerprint or eye scan and turn it into a secure password key that is “inseparable from the individual.” As a consequence, the identity of an individual accessing confidential data on the internet can be verified without the need to remember a password.
Even if a hacker was able to intercept your information, the data would be encrypted in an incomprehensible format. (RELATED: Comey ‘With Tears’ Begs Congress For FBI Access To Americans’ Cellphones.)
Fujitsu’s new technology improves upon an earlier authentication method based on analyzing the veins in palms.
Companies like Fujitsu, that are developing enhanced security devices, have caught the attention of several large financial institutions hoping to move away from traditional pin numbers and debit cards.
Socure, an online identity verification company, developed a program that uses social media accounts and a cell phone camera to authenticate an individual’s identity before allowing a financial transaction to proceed.(RELATED: Firm Wants To Put Facial Recognition Tech In Your Credit Card.)
Citigroup, the third largest bank in the US, is experimenting with using iris scanners, as a replacement for account pin numbers, at their ATMs.
According to Market Watch on Oct. 26, JP Morgan Chase and Bank of America, the first and second largest banks in the US respectively, are also researching the incorporation of cardless ATM technologies. (RELATED: Republican Presidential Candidates Should Make The Case For Strong DOJ Enforcement On Wall St.)
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